Moerus Capital Management LLC Increases Stock Position in Greenfire Resources Ltd. $GFR

Key Points

• Moerus Capital Management increased its Greenfire Resources stake by 37.9% in the first quarter, bringing its holdings to 2.34 million shares worth about $14.8 million.
• Institutional interest in Greenfire remains high, with 88.89% of the stock owned by institutional investors and several other firms recently boosting positions as well.
• Analyst sentiment is mixed: Greenfire has a consensus “Hold” rating, while recent results were weak, with the company reporting a loss and revenue well below expectations.

Moerus Capital Management LLC raised its stake in Greenfire Resources Ltd. (NYSE:GFR - Free Report) by 37.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,335,804 shares of the company's stock after acquiring an additional 642,312 shares during the quarter. Greenfire Resources makes up 5.5% of Moerus Capital Management LLC's holdings, making the stock its 7th biggest position. Moerus Capital Management LLC owned approximately 1.86% of Greenfire Resources worth $14,838,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. BW Gestao de Investimentos Ltda. increased its stake in shares of Greenfire Resources by 95.8% during the 2nd quarter. BW Gestao de Investimentos Ltda. now owns 3,296,823 shares of the company's stock worth $14,704,000 after purchasing an additional 1,613,198 shares during the last quarter. Bank of Montreal Can lifted its stake in Greenfire Resources by 165.8% in the fourth quarter. Bank of Montreal Can now owns 1,012,920 shares of the company's stock valued at $4,821,000 after purchasing an additional 631,848 shares during the last quarter. K2 Principal Fund L.P. lifted its stake in Greenfire Resources by 88.8% in the fourth quarter. K2 Principal Fund L.P. now owns 845,285 shares of the company's stock valued at $4,024,000 after purchasing an additional 397,685 shares during the last quarter. Saber Capital Managment LLC bought a new position in Greenfire Resources during the fourth quarter valued at $3,270,000. Finally, UBS Group AG grew its holdings in Greenfire Resources by 7.3% during the fourth quarter. UBS Group AG now owns 652,017 shares of the company's stock valued at $3,104,000 after purchasing an additional 44,598 shares during the period. 88.89% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on GFR shares. Royal Bank Of Canada started coverage on Greenfire Resources in a research note on Monday, July 6th. They issued a "hold" rating on the stock. Weiss Ratings downgraded Greenfire Resources from a "sell (d+)" rating to a "sell (d)" rating in a research note on Monday, May 18th. Finally, TD Securities initiated coverage on Greenfire Resources in a report on Tuesday, June 16th. They issued a "buy" rating for the company. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Greenfire Resources presently has a consensus rating of "Hold".

Greenfire Resources Stock Down 0.2%

GFR opened at $6.63 on Friday. The company has a 50 day moving average of $5.85 and a 200 day moving average of $5.86. The company has a market cap of $832.10 million, a PE ratio of -73.71 and a beta of 0.20. Greenfire Resources Ltd. has a 12 month low of $4.14 and a 12 month high of $7.02. The company has a current ratio of 0.66, a quick ratio of 0.54 and a debt-to-equity ratio of 0.01.

Greenfire Resources (NYSE:GFR - Get Free Report) last issued its earnings results on Tuesday, May 5th. The company reported ($0.42) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.06 by ($0.48). The business had revenue of $34.81 million for the quarter, compared to the consensus estimate of $104.27 million. Greenfire Resources had a negative net margin of 7.55% and a negative return on equity of 4.20%.

Greenfire Resources Company Profile

Greenfire Resources Ltd., together with its subsidiaries, engages in the development, exploration, and operation of oil and gas properties in the Athabasca oil sands region of Alberta. The company operates the Tier-1 oil sands assets located in Western Canada. It utilizes steam-assisted gravity drainage (SAGD) extraction technology, a situ thermal oil recovery process to recover diluted and non- diluted bitumen. The company is headquartered in Calgary, Canada.

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